Many of us are very excited to confine 2020 to the history books and move on to the promise that is 2021. In an effort to be best prepared to make the most of next year, we’d like to offer the Top Five “Things to Consider” for Business Leaders in 2021.
Thing 1: COVID-19
You knew this was coming. Are you prepared to navigate through Covid-19 and what’s to come? What if there are additional restrictions put upon business operations? Have you updated your policy guidebook? Have you set new Work From Home Expectations and know how to communicate and hold affected employees accountable?
Thing 2: Talent Acquisition
The US was, effectively, at full employment before being devastated by the global pandemic. Employers struggled to find (and afford) top talent to fill key roles. There is no doubt 2021 will be a very competitive one for employers looking to enhance their workforce. Do candidates consider your company an “Employer of Choice” in your field and geographic area? Do you know who the competitors for talent are in your area? How do your wage and benefit offerings stack up against the competition? Are you prepared to lose your top employee? Worse: Are you holding on to bad employees?
Thing 3: Employee Culture
Are you aware of how employee engagement impacts business results and have you implemented a strategy to measure and improve employee engagement in your organization? Have you deployed critical strategies for Diversity and Inclusion? Are you prepared to combat harassment in your workplace? Are all employee policies and procedures lined up with the Mission, Vision and Values of the organization? Do you have a culture of success?
Thing 4: HR and Regulatory Compliance
Are you confident in navigating through the ever changing local, state and federal laws including the complex Wage & Hour? In 2019 The Wage and Hour Division (WHD) recovered a record $322,000,000 in wages owed to workers. Do you have the correct protocols in place to ensure that you are not inadvertently violating the Fair Labor Standards Act? Are you comfortable dealing with Extended Family and Medical Leave (EFMLA) provided by the Families First Coronavirus Relief Act (FFCRA)?
Thing 5: Leadership Development
Things are different today than they were yesterday. And more now than ever, front line supervision is key to business success. Is your management team built of Managers or Leaders? Have you incorporated leadership training and development for your leadership team? Do you have a structured performance management system in place? Have you developed a succession plan for every key position in your organization?
Last Thing: Human Resources
Most HR departments range from being woefully under-resourced to (at best) dramatically under-resourced and struggle to do more than execute tactical functions like payroll and employee onboarding. How do you view your HR department? Do you see HR as a “Necessary Evil” or does HR hold a key “Seat at the Table” helping to develop and deploy growth strategies? What if you could provide your HR department with the fire power necessary to execute on both the tactical and strategic goals for next year? For less than the cost of hiring a part time employee, companies like PuzzleHR provide Human Resources as a Service (HRAAS), help fill in the gaps and put the pieces of the HR puzzle together. The result, HR drives business results.